Culligan International bought the international businesses of Primo Water Corp., a provider of drinking water services in North America and Europe, in an all-cash transaction valued at up to $575 million.

The transaction excludes the Aimia Foods, United Kingdom, Portugal, and Israel businesses but each of these will be sold across 2024. Following the completion of the transaction, Primo Water will have the financial flexibility to pursue organic growth, reduce leverage, return capital, accelerate accretive tuck-in acquisitions and engage in opportunities complementary and adjacent to its core North American water business.

BMO Capital Markets Corp. is acting as financial advisor and White & Case LLP is serving as legal advisors to Primo Water.